Guideline Value for Vedha Vinayagar Lane

Vedha Vinayagar Lane guideline value

The current guideline value of Vedha Vinayagar Lane is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Commercial Class I Type - III.

How the guideline value of Vedha Vinayagar Lane has changed

In the 2012 revision, the guideline value was Rs 6,000 per sq.ft. This figure saw a decrease of 33% by the 2017 revision, bringing it down to Rs 4,020 per sq.ft. The 2023 revision marked a significant increase, raising the value to Rs 6,000 per sq.ft, which was a 49% rise from the previous figure. The most recent revision in 2024 has further increased the guideline value to Rs 6,600 per sq.ft, reflecting a 10% increase from 2023.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for Vedha Vinayagar Lane is above this median.

• Vedha Vinayagar Koil Street: Rs 3,800 per sq.ft (2024)
• Veerangavedu Murugesa Mudali Lane: Rs 4,400 per sq.ft (2024)
• Veerangavedu Murugesa Mudali Street: Rs 4,900 per sq.ft (2024)
• Veerappan Lane: Rs 6,000 per sq.ft (2024)
• Veerappan Street: Rs 6,000 per sq.ft (2024)
• Veerasamy Pillai Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Vedha Vinayagar Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vedha Vinayagar Lane?

The Sub Registrar Office that covers Vedha Vinayagar Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Muthiyalpet

The guideline value is an essential factor in property transactions in Muthiyalpet. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is crucial for buyers to consider this value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Vedha Vinayagar Lane?

The current guideline value of Vedha Vinayagar Lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions: Rs 6,000 per sq.ft in 2012, Rs 4,020 per sq.ft in 2017, Rs 6,000 per sq.ft in 2023, and currently Rs 6,600 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Vedha Vinayagar Lane?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office covers Vedha Vinayagar Lane?

The Sowcarpet Sub Registrar Office covers Vedha Vinayagar Lane, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What is the land classification for Vedha Vinayagar Lane?

Vedha Vinayagar Lane is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.